New – 52 – Week High Update 08-27-21

Today 8/27/21 both the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs.

The Daily NYSE – New 52 – Week Highs chart ($NYHGH) courtesy of StockCharts.com updates the activity of this indicator. 

The move  today above the level recorded on 08/25/21 is mildly bullish. If next week there’s a move above 314 new highs made on 08/13/21 it would be additional bullish evidence. 

The daily Nasdaq Composite – New 52 – Week Highs chart ($NAHGH) updates this indicator.

Today on a move above SPX 4510.00 traders were stopped out of a 50% short position initiated at the SPX open on 07/12/21. The move up from the 07/12/21 open was 3.10% the loss on the 50% position was 1.55%.

The next blog will examine additional SPX upside targets.

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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